Irish pig prices have fallen this week in some factories by 4c/kg with farmers receiving quotes of €2.04c/kg up to €2.12/kg or up to €2.16 from processing plants which did not drop 4c last Friday.
The weekly throughput figure for week ending 8/01/23 was 57,403.
Bord Bia presented their Performance and Prospects 2023 on Wednesday detailing the value of Irish primary pigmeat exports for 2022 at €540M, an increase of 2% on 2021. There is a 40% increase in exports to other international markets which have helped to off set the decline in exports to China. Bord Bia also stated that live exports to Northern Ireland declined by 10% in 2022. Value added pigmeat exports increased by 14% in 2022 and amount to €460M.
Pig farmers are receiving soya quotes of circa €655, which for those buying on the spot market, has eroded any small benefit that may have been there as grain prices began to ease slightly. Composite feed prices have increased by 30% from Dec 21 vs Dec 22.
According to the European Commission, the average EU Grade E pig price was €2.04/kg for week 52. This is up 54% on the same week the previous year.